Gold mining stocks singled out as investment bank lifts gold forecast
Analysts at JP Morgan retain AngloGold Ashanti Limited (ADR) (NYSE:AU) and Fresnillo PLC (LSE:FRES) as top picks, citing “strong mark-to-market upgrades”, as the bank also lifted its long-term gold price assumption to $4,500 an ounce. These miners offer investors additional potential for cash...
AngloGold Ashanti Limited (ADR)(NYSE:AU) View Price & Profile Gold mining stocks singled out as investment bank lifts gold forecast
Published: 11:04 25 Feb 2026 EST
Analysts at JP Morgan retain AngloGold Ashanti Limited (ADR) (NYSE:AU) and Fresnillo PLC (LSE:FRES) as top picks, citing “strong mark-to-market upgrades”, as the bank also lifted its long-term gold price assumption to $4,500 an ounce.
These miners offer investors additional potential for cash returns, and scope for re-ratings relative to peers, the bank said in a note.
JP also stays Overweight on Gold Fields Limited (ADR) (NYSE:GFI) and Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2), and Neutral on Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF, FRA:H3M).
The bank also marked its 2026/27 gold price forecasts up 17% to around $5,150/oz and $5,300/oz, respectively.
The note argues a “paradigm shift” in the macro backdrop, strengthening the case for structurally higher bullion, and delivering fresh valuation upside for European, Middle Eastern and African-listed gold miners.